Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins Sells 158,921 Shares

Adaptive Biotechnologies Co. (NASDAQ:ADPT) CEO Chad M. Robins sold 158,921 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $8.46, for a total transaction of $1,344,471.66. Following the sale, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at approximately $21,798,890.46. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Adaptive Biotechnologies Trading Down 0.4 %

Shares of NASDAQ ADPT opened at $8.30 on Wednesday. Adaptive Biotechnologies Co. has a 12-month low of $2.28 and a 12-month high of $8.95. The company has a market cap of $1.22 billion, a PE ratio of -6.19 and a beta of 1.50. The stock has a 50 day simple moving average of $7.05 and a 200-day simple moving average of $5.68.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 62.06% and a negative net margin of 110.13%. During the same quarter last year, the firm posted ($0.30) earnings per share. Sell-side analysts forecast that Adaptive Biotechnologies Co. will post -1.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Adaptive Biotechnologies in the 3rd quarter worth approximately $34,000. KBC Group NV bought a new position in Adaptive Biotechnologies during the 4th quarter valued at $50,000. Townsquare Capital LLC acquired a new position in shares of Adaptive Biotechnologies during the 3rd quarter valued at $56,000. GAMMA Investing LLC bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth $59,000. Finally, Cibc World Markets Corp bought a new position in Adaptive Biotechnologies during the fourth quarter valued at about $65,000. Institutional investors own 99.17% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ADPT. The Goldman Sachs Group lifted their price target on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Piper Sandler upped their target price on Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Scotiabank raised their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. Finally, BTIG Research upped their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and an average price target of $8.30.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.